Synopsys FYQ4 Revenue Beats, Q1, Year Revenue Views Higher

By Tiernan Ray

Shares of computer chip design software maker Synopsys (SNPS) are unchanged in late trading at $33.33 after the company this afternoon reportedfiscal Q4 revenue that beat analysts’ expectations, and forecast this quarter’s and the full year’s revenue higher as well.

Revenue in the three months ended in October rose 16%, year over year, to $454.2 million, yielding 47 cents a share, excluding some costs.

For the current quarter, Synopsys sees revenue in a range of $468 million to $478 million, with non-GAAP profit in a range of 54 cents to 56 cents. That compares to the average Street estimate for $460 million and 55 cents.

For the full year, Synopsys sees revenue in a range of $1.96 billion to $1.98 billion, and non-GAAP EPS in a range of $2.26 to $2.31. That compares to Street estimates for $1.88 billion and $2.28.

Shares of competitors Cadence Design Systems (CDNS) are up 3 cents in late trading at $12.83, while competitor Mentor Graphics (MENT) are unchanged at $15.49.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.